Investor Presentation-Version II

January 2017

Industry Overview

INDUSTRY SIZE AND STRUCTURE

FMCG
Rs. 2,58,122 cr

Hair Care
Rs. 19,064 cr

Shampoo
Rs. 5,678 cr
(30%)*

Perfumed Oil
Rs. 6,411 cr
(34%)*

Coconut Based
Oil
Rs. 3475 cr
(18%)*

7% CONTRIBUTION

Hair
Conditioners
Rs. 461 cr
(2%)*

Hair Dyes
Rs. 3,038 cr
(16%)*

Hair Oil Market

Coconut based
Oils
(35%)**

Amla
based Oils
(15%)**

Light Hair Oils

(16%)**

Cooling Oils
(9%) **

Others
(25%)**

Perfumed Hair Oil Segment

* Value based share of Hair Care Market
** Value based share of Hair Oil Market
MAT MAR 16

Hair Oil Market in India

Overall Hair Oil Market Volume

Overall Oil Market Value

12,000

251

253

10,000

150
100

50

194

7,867

8,000
6,000

9,886
7,472

6,981
4,498

5,044

5,728

4,000

0
08-09

09-10

10-11

11-12

12-13

13-14

14-15

15-16

16-17
YTD Dec

08-09

09-10

30.0
30.0

31.9

31.0

19.9

13-14

1,474

14-15

15-16

16-17
YTD Dec

15.0
10.0
5.0

1,602
1,223

1,080

1,200
1,000
800

1,503

1,311

1,400

24.7

22.4

YTD Growth 2.1 %

18.4

12-13

1,600

26.8

25.0

11-12

1,800

32.3

(Rs. Cr.)

35.0

10-11

Light Hair Oil Value

Light Hair Oil Volume

(In 000 KLtr)

9,278

2,000

20.0

8,676

YTD Growth 0.3 %

214

247

610

710

YTD Growth 3 %

200

197

238

YTD Growth 1.5 %

(In 000 KLtr)

250

236

269

(Rs. Cr.)

300

831

600
400
200

0.0

0
16-17
08-09 09-10
YTD Dec
Source: AC Nielsen Retail Audit Report, Dec 2016; LHO nos. adjusted from 15-16 for like to like comparison
08-09

09-10

10-11

11-12

12-13

13-14

14-15

15-16

10-11

11-12

12-13

13-14

14-15

15-16

16-17
YTD Dec

Hair Oils category shows Vol growth as compared to YTD Dec FY15-16. LHO segment shows value & volume growth.
3

Light Hair Oil Market in India

Light Hair Oil Volume

30.0

19.9

22.4

15.0
10.0
5.0

1,602
1,223

1,080

1,200
1,000

800

1,503

1,311

1,400

24.7

(Rs. Cr.)

18.4

1,474

1,600

26.8

25.0
20.0

31.0

1,800

32.3

YTD Growth 2.1 %

(In 000 KLtr)

30.0

31.9

610

710

YTD Growth 3 %

35.0

Light Hair Oil Value

831

600
400
200
0

0.0

08-09

09-10

10-11

11-12

12-13

13-14

14-15

15-16

08-09

16-17
YTD Dec

Almond Drops Hair Oil Market - Volume

09-10

10-11

11-12

12-13

13-14

14-15

15-16

16-17
YTD Dec

Almond Drops Hair Oil Market - Value

17.9

18.7

13.9
8.1

08-09

9.6

09-10

11.0

10-11

11-12

12-13

1,000

13-14

14-15

15-16

14.1

16-17
YTD Dec

861
746

800

594

600
400

897

284

360

964
YTD Growth 1.6 %

16.3

18.1

(Rs. Cr.)

20.0
18.0
16.0
14.0
12.0
10.0
8.0
6.0
4.0
2.0
0.0

YTD Growth 0.5 %

(In 000 KLtr)

1,200

441

200

733

0
08-09

09-10

10-11

11-12

12-13

13-14

14-15

Source: AC Nielsen Retail Audit Report, Dec 2016; LHO nos. adjusted from 15-16 for like to like comparison

15-16

16-17
YTD Dec

Bajaj Almond Drops shows growth in both volume & value as compared to YTD Dec FY15-16
4

Market Shares Trends in Light Hair Oil Category (All India Urban Plus Rural)

Volume MS

Value MS

70.0%

70%

60.0%
50.0%

48.0% 49.1%

51.9%

54.4%

56.6% 57.7% 58.0% 57.1%

60%
51%
50%

44.1%

40.0%

40%

30.0%

30%

20.0%

20%

10.0%

10%

0.0%

0%
08-09

09-10

10-11

11-12

12-13

13-14

14-15

15-16

16-17
YTD Dec

53%

55%

58%

60%

60%

57%

59.9%

12-13

13-14

14-15

15-16

16-17
YTD Dec

47%

08-09

09-10

10-11

11-12

Market Share in the Light Hair Oil Category, LHO nos. adjusted from 15-16 for like to like comparison.
Source: AC Nielsen Retail Audit Report, Dec 2016

Market Shares Trends in Total Hair Oil Category (All India Urban Plus Rural)

Volume MS

Value MS

8.0%

7.1%
7.0%

6.6%

7.4%

7.3%

12.0%

6.7%

9.5%

10.0%

5.8%

6.0%
5.0%

4.5%

9.9%

9.7%

9.7%

9.8%

13-14

14-15

15-16

16-17
YTD Dec

8.5%
7.7%

8.0%

4.7%

7.1%
6.3%

4.1%
4.0%

6.0%

3.0%

4.0%

2.0%
2.0%

1.0%
0.0%

0.0%
08-09

09-10

10-11

11-12

12-13

13-14

14-15

15-16

16-17
YTD Dec

08-09

09-10

10-11

11-12

12-13

Source: AC Nielsen Retail Audit Report, Dec 2016

Bajaj Almond Drops has increased its Value MS in the THO category this year
6

ADHO Relative Market Share Value Trend

Relative Market share is the ratio of Bajaj Almond Drops market
share to the next largest competitor in LHO segment

Relative MS Value

5.0

4.3

4.5

4.0

4.2

4.3

14-15

15-16

4.5

4.0
3.5

3.2

3.0
2.5

3.4

2.7
2.1

2.0
1.5
1.0

0.5
0.0
08-09

09-10

10-11

11-12

12-13

13-14

16-17 YTD
Dec

Source: AC Nielsen Retail Audit Report, Dec 2016; LHO nos. adjusted from 15-16 for like to like comparison

Strong Relative market share demonstrates the strength of the brand

7

ADHO Relative Market Shares Value

Relative
Market Share

States

Relative Market
Share

Rank

States

Delhi
Rajasthan
Punjab

3.9
1.6
3.2

1
1
1

2.2
6.2

HP-JK

3.4
4.5
3.6

North East
Orissa
WB
Maharashtra
Mumbai

UP

6.8
3.3

Uttaranchal

4.0

Gujarat
AP
Karnataka
Kerala

3.4
2.0
1.3
5.1
1.3

Assam

TN

1.3

Bihar

4.5
10.7

All India

4.5

Jharkhand

7.7

Haryana
Madhya Pradesh
Chhattisgarh

1
1
1

2.7
4.5

Relative Market share is the ratio of Almond Drops market share value to the next largest competitor in LHO segment
Rank is the position of ADHO in respective state
Source AC Nielsen Retail Audit Report, Dec 16

Rank
1
1
1
1
1
1
1
1

Statewise Market Share

16-17 YTD Dec

All India
Delhi
Raj
Punjab
Har
HP-JK
MP
Chattisgarh
UP
Uttar
Assam
Bihar
JharKhand
North East
Orissa
WB
Guj
Maha
AP
Kar
Kerala
TN

LHO Volume
Saliency
100.0%
6.3%
7.4%
4.2%
6.1%
0.6%
10.2%
3.0%
23.3%
1.0%
2.7%
5.8%
1.3%
2.1%
1.8%
9.7%
4.3%
7.2%
1.3%
1.1%
0.2%
0.5%

ADHO Proportion % (Vol)

Urban
57.1%
100.0%
53.4%
68.9%
75.4%
42.3%
51.8%
41.2%
42.5%
54.0%
39.7%
45.6%
56.0%
55.0%
54.3%
59.1%
68.8%
71.9%
87.5%
73.2%
80.4%
98.8%

Rural
42.9%
0.0%
46.6%
31.1%
24.6%
57.7%
48.2%
58.8%
57.5%
46.0%
60.3%
54.4%
44.0%
45.0%
45.7%
40.9%
31.2%
28.1%
12.5%
26.8%
19.6%
1.2%

ADHO Market Share % (Vol)

Total
57.1%
55.1%
46.4%
53.9%
58.7%
49.4%
55.6%
69.5%
60.8%
58.5%
65.7%
78.1%
68.9%
41.3%
66.6%
43.5%
52.9%
58.3%
49.3%
65.6%
29.7%
32.7%

Urban
54.9%
55.1%
52.0%
56.8%
55.6%
51.2%
55.8%
62.0%
58.3%
52.6%
60.3%
72.9%
67.0%
37.7%
61.0%
41.2%
50.1%
59.0%
50.4%
62.7%
31.1%
35.4%

Rural
60.3%

41.4%
52.7%
70.6%
47.1%
55.5%
75.8%
62.8%
67.3%
69.9%
83.1%
71.5%
46.8%
74.7%
47.4%
60.2%
56.7%
43.2%
75.0%
24.8%
4.4%

9
Source: AC Nielsen Retail Audit Report, Dec 16

Light Hair Oil Market Key Characteristics

Rural Urban break up of LHO market

Share of Distribution Channels in LHO market

3%
5%

8%

Urban dominated
segment due to its
relatively higher
pricing

40%
60%

6%

Grocers dominate
distribution

78%

AI Urban

AI Rural

Modern Trade

SKU wise break up of LHO market

Pan Plus

Chemists

Cosmetics

Grocers

Region wise break up of LHO market

3%

10%

12%

32%

50ml and above

SKUs contribute
the maximum in
the repertoire.

23%

26%

Sales tend to be
concentrated in
the Central part of
the country

24%

35%

36%

0-15 ml

16-50 ml

51-100 ml

>100 ml

NZ

CZ

EZ

WZ

SZ

Source: AC Nielsen Retail Audit Report, YTD Dec 2016

10

ADHOs New 360o Media Campaign Load Mat Lo

New Campaign Idea on the insight of

Light is Strong

New TVC to communicate to the audience

that you dont need to bear heavy, sticky
oils for nourishment. Switch to the Light
& Non-Sticky Bajaj Almond Drops hair oil.
Bollywood Star Parineeti Chopra roped in
as Brand Ambassador

360o Marketing Campaign across all

mediums TV, Print, Outdoor, Radio,
Trade & Digital

11

Company Overview

Bajaj Corp Ltd. (BCL)

An Overview

Part of Bajaj Group which has business interests

in varied industries including sugar, consumer
goods, power generation & infrastructure
development

Bajaj Almond Drops Hair Oil - A premium perfumed

hair oil containing almond oil and Vitamin E

Subsidiary of Bajaj Resources Ltd. (BRL)

Bajaj Kailash Parbat Cooling Oil An ayurvedic

formulation containing Sandal & Almond extracts

Haircare Portfolio

BCL is the exclusive licensee of brands

owned by BRL
Brands licensed to BCL for 99 years from
2008

Key brand Bajaj Almond Drops Hair Oil

2nd largest brand in the overall hair oils

segment

Market leader with 59.9% market share* of

LHO market

Premium positioning commands one of the

highest per unit prices in the industry

New Product Launch: Bajaj Amla Hair Oil

Other brands - Brahmi Amla, Bajaj Kailash Parbat

Cooling Oil and Jasmine (all hair oil brands),
Black tooth powder and skincare products under
Nomarks brand. *Source: AC Nielsen Retail Audit Report, YTD Dec 2016.

Competitors Keo Karpin (Deys Medical), Hair &

Care (Marico)

Competitors: Himani Navratna

Bajaj Brahmi Amla Hair Oil - Traditional heavy hair
oil. Brand has been in existence since 1953

Competitors - Dabur Amla, Dabur Sarson Amla

Bajaj Amla Variant in the low price amla hair oil
segment catering to price conscious consumers
Competitors - Shanti Badam Amla Hair Oil (Marico)

Bajaj Jasmine Hair Oil - A Jasmine flower perfumed

hair oil. In demand due to cultural significance.

Bajaj Kala Dant Manjan An oral care product for

the rural market.
13

Skincare Portfolio
Bajaj Nomarks Creams for
Normal Skin, Oily Skin & Dry Skin Types, available in
sizes 12g(Normal skin) & 25g

Bajaj Nomarks Facewash for

Clear Glowing Fairness (50g) & Neem Facewash (15g, 50g & 100g)

Bajaj Nomarks Soaps

Herbal Scrub Soap and Neem Soap, available in sizes 125g

Bajaj Nomarks Exfoliating Scrub (50g)

& Bajaj Nomarks Face Pack (25g)

Bajaj Almond Drops - A Premium Brand

Strong Market Share (Val) Growth in Recent Years
70%
60%
50%

47%

51%

55%

53%

57%

60%

58%

60%

. . . But not at the cost of pricing power

70

59.9%

60
50

40%

40

30%

30

20%

20

10%

10

0%

08-09

09-10

10-11

11-12

12-13

13-14

14-15

15-16

35

32

40

38

46

42

55

50

60

58

60

Jul--06 Mar-08 Jul-08 Jan-10 May-10 Apr-11 Apr-12 Apr-13 Apr-14 Apr-15 Dec-16

16-17
YTD Dec

Comparative Price of Different Brands for 100 ml in the Hair Oil Segment
Competitor Brands
66

(MRP of 100ml (Rs.)

70

60

60
50

60
45

42

40
30

56

47

45

32
25

20
10
0

Amla Hair oil Bramhi Hair

Oil
Source: AC Nielsen Retail Audit
Report Dec 2016

Almond
Drops

Kailash
Parbat

Parachute

Keo Karpin Dabur Vatika Dabur Amla Hair & Care

Navratna

Almond Drops has created a unique positioning for itself through initiatives like product differentiation
(Almond based), focused marketing, unique packaging (glass vs. plastic used by competition etc.)
15

Strong Distribution Network

Strong Distribution
Network
Distribution Network
The company reaches consumers
through 3.6mn retail outlets
serviced by 7707 distributors and
11500 wholesalers

Distribution Structure

Factory (9)
OWN Himachal Pradesh -2, Uttarakhand- 1,
Guwahati 1
THIRD PARTY - Himachal Pradesh-2, Bangladesh-1,
Uttarakhand- 2

45

45

213

Central Warehouse (1)

70

154
20

1805

539

417

198

688

352

635

179

Regional Distribution Centre (29)

516

Urban Distribution

45
277

Redistribution Stockist
1479

247

Super Stockist - 229

Sub-Stockist- 5999
124

30

Rural Distribution

236

523

Retail Outlets 1483582

Retail Outlets - 2173165

16

Over the years, BCL has created a large distribution network (that continues to grow) which can be
leveraged to introduce new products

Sales Force Automation

SFA program has been launched under the name of Project
Saathi this year.
It was started with the objective of better coverage & control
of distribution.
Currently after the introduction of SFA model for the sales
team, out of 1072, 670 ISRs are on SFA.

Organization Structure
Chairman
Mr. Kushagra Nayan Bajaj
Managing Director
Mr. Sumit Malhotra
GM- Operations
Mr. Kabir Sahni

3 Works
Manager
(3 MUs)

HeadQC &
R&D

Head Supply
Chain &
Procurement
Mr. Devendra Jain

President Operations
Mr. Apoorv Bajaj

CFO
Mr. V.C. Nagori

VP - Finance
Mr. D.K. Maloo

Head Purchase
Mr. Subroto
Ghosh

HeadTreasury

Regional
Commercial
Manager- 5
in No's

DGM
L&D

AGM / Sr.
MgrFinance

President- Sales &

Marketing Mr.Sandeep Verma

DGM Key Acts.

Sales Head
R Ghosh

ESS
Company
Secretary
Hitesh
Kanani

Head Legal
Mr. Ashish Kr.
Panigrahi

Head IB
P Banerji

Sr. Mgr
Plng &
Distribution
Head

GM IT
Mr. Dharmesh
J. Sanghavi

Head
Internal
Audit

VP HR
Mr. Subhamay
Chatterjee

Sr.
Manager
Payroll
AM Admin

Country
ManagerBangladesh,
Nepal, GCC
and SEAN

Mktg Head A
Dangi

Category
Managers,

Research &
Media Mgrs

DGM
South &
West

AGM North
AGM Central
AGMEast
18

Financial Information
Summary Income Statement

Summary Balance Sheet

(Rs. In Crore)
Particulars
Sales (Net)
EBITDA
EBITDA Margin
Profit Before Tax & Exceptional
Item
Exceptional Item (Trademark &
Intellectual Properties)
Profit Before Tax(PBT)
Net Profit after Tax
Net Profit Margin

Q3FY17 Q3FY16 9M FY 17 9M FY 16
186.40 195.70
586.28
585.41
62.33 68.83
202.68
201.96
34.57%
34.50%
33.44% 35.17%
73.48

74.44

232.39

217.96

11.75

18.38

35.24

73.48 62.69
57.80 49.31
31.01% 25.20%

214.00
168.29
28.70%

182.72
143.73
24.55%

(Rs. In Crore)
Particulars
(Rs. In Crore)
Shareholders Equity
Net Fixed Assets

BTP
0.2%

AHO
1.3%

NOMARKS
2.8%

BAHO
1.3%

As on
31.03.2016

654.11

485.82

50.27

65.59

603.05

414.93

0.79

5.30

Investments
(including Bank FDs, Debt MF and
Government Securities & Bonds)
Net Current Assets

Key Highlights

Brandwise Sales Break-Up for Qtr 3 FY 2017

JHO
0.3%

As on
31.12.2016

Strong demonstrated growth track record

Among the highest EBITDA margins in the

industry

ADHO
94.1%

19

EBITDA & PAT Performance

Rs. in Crore

Particulars

Q3 FY17 Q3 FY16

YoY% 9M FY 17 9M FY 16

YoY%

EBITDA

62.33

68.83

-9.44%

202.68

201.96

0.36%

Profit Before Tax &

Exceptional Item

73.48

74.44

-1.29%

232.39

217.96

6.62%

11.75

18.39

35.24

Profit Before Tax

(PBT)

73.48

62.69

17.20%

214.00

182.72

17.12%

Profit After Tax (PAT)

57.80

49.31

17.20%

168.29

143.73

17.09%

Exceptional Item (Trademark

& Intellectual Properties)

20

Profit & Loss Q3 and 9 M FY2017

Particulars
Net Sales
Other Operating Income

Material Cost
% of Sales
Employees Cost
% of Sales
Advertisement & Sales Prom.
% of Sales
Other Expenses
% of Sales
EBITDA
% of Sales
Other Income
Finance Cost
Depreciation
Corporate Social Responsibility
Profit Before Tax & Exceptional Item
Exceptional Item (Trademark &
Intellectual Properties)
Profit Before Tax(PBT)
Tax Expenses
Profit After Tax(PAT)
% of Sales
Basic & Diluted EPS (Rs.)

Q3 FY17
186.40
0.51

Q3 FY16
195.70
0.39

64.38
34.54%
15.71
8.43%
24.85
13.33%
19.64
10.54%
62.33
33.44%
13.75
0.24
1.26
1.10
73.48

72.61
37.10%
11.46
5.86%
23.03
11.77%
20.16
10.31%
68.83
35.17%
7.77
0.01
1.12
1.03
74.44

73.48
15.68
57.80
31.01%
3.92

11.75
62.69
13.38
49.31
25.20%
3.34

YoY%
-4.75%

-9.44%

-1.29%

17.20%
17.20%

9 M FY 17
586.28
1.72

Rs. in Crore
9 M FY 16
YoY%
585.41
0.15%
1.67

200.94
34.27%
44.17
7.53%
78.25
13.35%
61.96
10.57%
202.68
34.57%
37.03
0.67
3.35
3.30
232.39

222.85
38.07%
33.78
5.77%
66.77
11.41%
61.72
10.54%
201.96
34.50%
22.20
0.03
3.08
3.09
217.96

18.39
214.00
45.71
168.29
28.70%
11.41

35.24
182.72
38.99
143.73
24.55%
9.74

0.36%

6.62%

17.12%
17.09%

21

Sales Performance
Sales (Value) :
Q3FY16 v/s Q3FY17
700

200

In ` Crores

In ` Crores

250

150
100

Sales (Value) :
9M FY 16 v/s
9M FY17

195.70

186.40

50

600
500
400
300

585.41

586.28

9M FY16

9M FY17

200
100

Q3 FY16

Q3 FY17

Sales for the quarter ended December16 has decreased by 4.75%.

Sales for the nine months ended December16 has increased by 0.15%.

22

Statement of Quarter wise Sales (Volume & Value)

STATEMENT OF QUARTERWISE SALES (VOLUME - In Cases )
ADHO

KPCO

FY 16

FY 17

FY 16

AHO

FY 17

Nomarks

FY 16

FY 17

FY 16

Others

FY 17

FY 16

Q1

1,269,703

1,241,928

7,483

7,435 11,801 14,073

45,072

49,630

29,195

40,210

8,081

Q2

1,210,568

1,191,034

2,107

1,856 15,376 16,751

40,865

45,290

27,225

41,136

Q3

1,186,481

1,238,671

764

986 11,761 13,069

27,043

43,207

26,300

41,315

Total

FY 17

BAHO

FY 17

Total

FY 16

FY 17

FY 16

7,538

1,371,335

1,360,814

7,640

8,445

1,303,781

1,304,512

4,886

6,764

1,257,235

1,344,011

3,666,752 3,671,633 10,354 10,277 38,938 43,892 112,980 138,127 82,720 122,661 20,607 22,747 3,932,351

4,009,337

STATEMENT OF QUARTERWISE SALES (VALUE - In Rs. Crores)

ADHO

KPCO

BAHO

AHO

Nomarks

Others

Total

FY 17

FY 16

FY 17

FY 16

FY 17

FY 16

FY 17

FY 16

FY 17

FY 16

FY 17

FY 16

FY 17

FY 16

Q1

188.72

183.11

0.64

1.29

2.36

2.68

4.18

4.27

6.37

7.57

1.46

1.22

203.73

200.14

Q2

181.18

172.57

0.17

0.23

3.10

3.23

3.79

3.83

6.54

8.28

1.37

1.43

196.15

189.57

Q3

175.28

180.18

0.08

0.12

2.34

2.45

2.49

3.63

5.29

8.12

0.92

1.20

186.40

195.70

Total

545.18

535.86

0.89

1.64

7.80

8.36

10.46

11.73

18.20

23.97

3.75

3.85

586.28

585.41
23

Consistent Performance over the last 15 successive quarters

40.00%

35.00%
31.88%
30.00%

28.37%

27.09% 27.04%

30.86%

31.67%

32.35%

33.62%

35.37% 34.82%
33.44%

28.65% 28.58% 28.27% 29.24%

25.00%

20.00%
Gr (Value)
15.00%

Gr (Vol)
EBIDTA

-4.75%
-6.46%

3.47%

1.80%
0.77%
-3.24%
-4.95%

3.59%
2.96%

10.68%
8.34%

14.29%
12.11%

27.82%
23.03%

29.83%
21.06%

18.55%
8.80%

12.36%
3.51%

0.26%
-6.40%

6.85%
0.90%

0.00%

16.48%
14.96%

5.00%

23.18%
20.16%

10.00%

Q1FY14 Q2FY14 Q3FY14 Q4FY14 Q1FY15 Q2FY15 Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16 Q4FY16 Q1FY17 Q2FY17 Q3FY17
-5.00%

-10.00%
24

Breakup of RM/PM Costs (for Q3 FY 17)

Key Raw & Packing Material

% to Sales

% to Total Cost

LLP

8.34%

24.31%

Glass Bottles

9.17%

26.73%

Refined Veg. Oil

4.58%

13.35%

Perfumes & other additives

3.59%

10.47%

Corrugated Boxes

1.79%

5.22%

Caps

2.03%

5.92%

Others

4.80%

13.99%

TOTAL

34.30%

100.00%

* Consumption is 34.30% of Sales

*For Bajaj Almond Drops

25

Change in Prices of Key Ingredients

Per Kg Rates of Oil

100

100

80

80
Amount (Rs.)

Amount (Rs.)

Per Kg Rates of LLP

60
40
54.70
20

46.37

57.87

44.86

60
93.76
40

83.97

82.88 79.21

20
0

Qtr3 FY16 vs FY17

9M FY16 vs FY17

Qtr3 FY16 vs FY17

9M FY16 vs FY17

During the quarter average price of LLP decreased to Rs 46.37/Kg from Rs 54.70/Kg in corresponding
quarter of previous year.

Prices of Refined Oil decreased to Rs 83.97/Kg from Rs 93.76/Kg in corresponding quarter of previous
year.

26

Fund Position
Fund Position:

The total Fund available with the company as on 31st Dec 2016
is Rs. 487.06 Crores
This has been invested in Bank Fixed Deposits, AAA rated PSU Bonds, Commercial
Papers, Government Securities and Liquid MFs.
There is no investment in ANY Inter Corporate Deposit
Particulars

Amount (Rs. in Crores)

Bank FDs

12.98

Bonds

466.12

Liquid Plans of Mutual Funds

Total

7.96
487.06

27

Dividend Payout History

Dividend Payout
% to Capital
(Rs in Lacs)

Dividend per
share
(Rs.)

Year

No. of Shares
(in Lacs)

Face
Value

2016-17

1,475

16962.50

1150%

11.50

2015-16

1,475

16962.50

1150%

11.50

2014-15

1,475

16962.50

1150%

11.50

2013-14

1,475

9,587.50

650%

6.50

2012-13

1,475

9,587.50

650%

6.50

2011-12

1,475

5,900.00

400%

4.00

2010-11

295

2,802.50

190%

9.50

28

Corporate Governance
Bajaj Corp Ltd is a part of the Bajaj Group of companies. The other listed entity
in the group is Bajaj Hindusthan Sugar Ltd
Bajaj Corp Ltd has not and will not transfer funds from and to any other company
within the Bajaj Group
The Company acquired in September 2011 (Uptown Properties) owns a piece of
land and building in Worli, Mumbai. Uptown Properties was previously owned by
the C.K. Raheja Group (i.e. Mr. Chandu Raheja)
The corporate Headquarters of Bajaj Corp Ltd will be constructed on this land.
The Construction is expected to be completed by end of 2017.
The Bajaj Group is well aware of issues regarding Corporate Governance and
would like to state that there will be no financial interaction between any of the
listed entities within the group.

29

Growth Strategy
Strategy

Action Steps

Market share gains from

other hair oil segments

Focus on rural
penetration

Leverage existing
strengths to introduce
new products

Pursue inorganic
Opportunities

Convert coconut hair oil users to light hair oil users through sampling, targeted advertising
campaigns, product innovation and creating awareness about product differentiation including
communicating the advantages of switching to lighter hair oils. Aim for a value market share of 10%
on Total Hair Oil category by 2017-18 .

Tap the increase in disposable income of rural India and convert rural consumer from unbranded to
branded products by providing them with an appropriate value proposition

Among its key competitors, our Almond Drops is the only brand which is available in sachets a
marketing initiative to penetrate the rural market

BCL has over the years created a strong distribution network across 3.6 mn. retail outlets which can
be optimally utilized by introducing new products

BCL intends to extend Almond Drops platform developed by its Almond Drops Hair Oil brand to
other personal care products to leverage on the strong connotation of Almonds with nutrition

Will seek inorganic growth opportunities in the FMCG and hair oil market as part of growth strategy

The inorganic growth opportunities will focus on targeting niche brands which can benefit from BCLs
strong distribution network so that they can be made pan India brands

30